On our wholesale clothing platform London, every day we deal with thousands of buyers from all over the world who are looking to buy wholesale goods at the best possible prices. Some of them have been successful market leaders for several years, and others come and go to look at offers and find business opportunities.
This article is dedicated to the latter kind of traders, who are just starting out and do not know how to get their business off the ground.
Things to consider before starting.
We often receive messages from users who want to start their own business. The aim is to offer goods that are well remunerated and easy to handle.
So success depends on many things:
Location – In commerce any kind of good can be sold anywhere. But consider that in big cities such as Milan, Rome and Naples there are goods that sell more easily in one city than in another. For example – ski equipment. It sells very well in mountain areas near ski resorts, but in Naples not so well. Although it may seem like a rather abstract example, many times this is the main reason why a business is forced to close or is making a loss.
Competition – divided into 2 types
- Direct competition – all shops/wholesalers in the vicinity. Look around the area where you want to open your business to see how many similar businesses are located nearby. Are there many of them? Think about whether it is worth entering a business with which you know from day one you will have enormous competition, which in most cases you can only fight with price.
- Producer Competition – Do you want to sell wine? It is good to make sure that around where you want to open your own there are no distributors with several years of experience who can make life difficult from day one. at the start of the business it is always good to offer lower prices than the competition to encourage people to try/buy the product, but if the price of the competition is lower than your own
Enquiries – want to start selling fancy clothes? Great, look around – are people interested in these products? If you are in the centre of Milan you may find several interested parties, but if you have a shop in a small town with a low average income then you can imagine the response you will get for the products you intend to sell.
Savings – Some companies sell online, but this way it takes time to acquire customers. This means that you can spend a medium to long period with few sales. Sales, however, slowly and gradually start to increase over time. There are many people who start their business by buying a lot of goods which then inadvertently turn out not to be easily sold. then there can be situations where only after a couple of months does the business start to make money. This makes it clear that it is good to always leave a small reserve for your business and not invest everything in merchandise.
Have a plan B – if you start a business, for example, selling clothes – It is good to keep in mind that if you do not like the types of customers you are dealing with? Then it is good to always think one step ahead to have alternatives in any situation that might arise.
Have a good organisation of work – people who have a well-organised life create good businesses with high profits. Always keep goods in the shop, checking if customers are satisfied increases reliability. Always have a clear picture of the customer relationship. This makes the customers remain the co-operators and gives a guarantee that one’s business will run successfully.
